Mereo BioPharma Group (NASDAQ:MREO) Posts Earnings Results, Misses Expectations By $0.03 EPS

Mereo BioPharma Group (NASDAQ:MREO) announced its earnings results on Wednesday. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03), Zacks reports.

Mereo BioPharma Group Trading Down 3.1 %

Shares of NASDAQ MREO traded down $0.08 during trading on Friday, reaching $2.34. The company had a trading volume of 134,817 shares, compared to its average volume of 1,008,209. Mereo BioPharma Group has a 12-month low of $2.22 and a 12-month high of $5.02. The business’s 50-day moving average is $2.73 and its 200 day moving average is $3.51.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MREO shares. Needham & Company LLC reiterated a “buy” rating and set a $7.00 price target on shares of Mereo BioPharma Group in a research report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $7.00 target price on shares of Mereo BioPharma Group in a report on Tuesday, March 18th. Lifesci Capital assumed coverage on Mereo BioPharma Group in a research note on Tuesday, December 24th. They issued an “outperform” rating and a $10.00 target price for the company. JPMorgan Chase & Co. started coverage on Mereo BioPharma Group in a research note on Thursday. They issued an “overweight” rating and a $7.00 price target on the stock. Finally, Jefferies Financial Group began coverage on Mereo BioPharma Group in a report on Friday, December 6th. They issued a “buy” rating and a $7.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $7.71.

Mereo BioPharma Group Company Profile

Mereo BioPharma Group plc, a biopharmaceutical company, develops and commercializes therapeutics for the treatment of oncology and rare diseases in the United Kingdom, the United States, and internationally. It develops Etigilimab (MPH-313), an antibody T-cell immunoreceptor with Ig and ITIM domains, which is in Phase 1b clinical trial for the treatment of tumors.